sec training 2016

By: Patricia Woodbury from FTI Consulting

Pat Woodbury is a Managing Director at FTI Consulting and is based in Washington, DC. Ms. Woodbury has more than 30 years of experience gained through consulting and at the Public Company Accounting Oversight Board (PCAOB), the U.S. Securities and Exchange Commission (SEC), in corporate financial management and public accounting. She provides expert, advisory consulting and investigative services related to technical accounting, auditing, financial reporting, professional responsibility, FCPA and other SEC related issues.

Ms. Woodbury’s experience includes assisting companies with the analysis, accounting and disclosure for various complex transactions. She has assisted companies in responding to comments raised by the SEC’s Division of Corporation Finance and other communications with the SEC. She has advised companies on complex accounting issues has provided assistance to public and pre-IPO companies with SEC filings, including “pre-reviews” prior to filing and advised registered accounting firms in their interactions with the PCAOB.

Ms. Woodbury’s experience also includes financial fraud investigations, forensic accounting, FCPA investigations, compliance reviews and other litigation support. She has provided expert opinions related to internal controls, SEC reporting and the responsibilities of auditors.

On Dec 15-16, 2015 at Financial Accounting & Reporting Update at Philadelphia Hyatt Bellevue

See all upcoming 2016 CPE Training Conferences including FASB & SEC Updates: 2016 Calendar of Events

Patricia began the presentation with an overview of the SEC Organization structure.  Patricia provided an update of SEC Enforcement activities including their newest milestones and more aggressive stance.  The Division’s priorities for the coming year include a focus on complex financial products, gatekeepers, financial reporting, market structure, insider trading, and municipal securities.

The next are of focus in the presentation was SEC Comment Letter Trends and the most common areas by percentage:

MD&A

Fair Value Measurements

Signatures, exhibits and agreements

Income taxes

Revenue Recognition

Non-GAAP financial measures

Intangible assets and goodwill

Executive Comp disclosures

Segment reporting

Acquisitions and business combinations

Patricia also detailed the latest rends in restatements, SEC whistleblower program, FCPA, international convergence, Dodd-Frank Act, Clawback policies